Delta Regional Authority Creative Placemaking Workshops

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Presentation transcript:

Delta Regional Authority Creative Placemaking Workshops Why this DRA Initiative is So Critical: Rural Creative Placemaking and Cultural Equity Presented to the Delta Regional Authority Creative Placemaking Workshops Charles W. Fluharty President & CEO Rural Policy Research Institute

http://www.nytimes.com/2013/06/16/world/asia/chinas-great-uprooting-moving-250-million-into-cities.html?pagewanted=all&_r=0

Contributions to aggregate growth depend on few hub regions… …the fat tail is equally important - if not more - to aggregate growth…

“All great truths begin as blasphemies.” --George Bernard Shaw

Recent focus on wealth

Especially Rural Wealth

Eight Forms of Comprehensive Rural Wealth/Distribution Physical Financial Natural Human Intellectual Social Cultural Political

What is Comprehensive Wealth? Multiple forms of wealth Investment decisions by individuals and governments Policy strategies Comprehensive indicators of outcomes

Characteristics of Comprehensive Wealth Flows versus stocks (wellbeing versus wealth) Individual wellbeing is fundamentally a flow measure GDP is our most common measure of income flow But wellbeing is dependent on wealth Wealth is a stock—the net accumulation of assets and liabilities

Characteristics of Comprehensive Wealth Comprehensive wealth and multiple forms of capital 1. Financial capital Cash, deposits, stocks, bonds, futures contracts Claims on assets held by others 2. Built capital Buildings, machines, roads, bridges, parks, dams, transmission lines, 3. Natural capital Air, water, soil, forests, animals, minerals, etc. 4. Human capital Education, health, skills, experience, etc. 5. Social capital Social organization, networks, trust, markets, etc.

Characteristics of Comprehensive Wealth Comprehensive wealth and multiple forms of capital 6. Intellectual capital Knowledge, books, patents, music, etc. 7. Political capital Political networks, and trust and access in these networks, etc. 8. Cultural capital Art, architecture, music, literature, sense of history and place, etc.

National Advisors

• Regional Networks • Rural Creative Placemaking Summit • Digital Learning Commons